Grand Continent Hotels IPO - Day 3 Subscription at 0.60 Times

Grand Continent Hotels' initial public offering (IPO) has shown moderate progress through its three-day subscription period. The ₹74.46 crore IPO has witnessed steady interest, with subscription rates starting at 0.39 times on day one, improving to 0.45 times on day two, and reaching 0.60 times by 11:19 AM on the final day, demonstrating gradual investor interest in this hotel chain that operates 19 properties across six major Indian cities with over 900 rooms.

Grand Continent Hotels IPO's qualified institutional buyers segment leads with 0.71 times subscription, while retail investors follow at 0.63 times and non-institutional investors show moderate interest at 0.36 times, reflecting a balanced approach toward this mid-market hotel chain that focuses on providing value-for-money hospitality services.

Subscription Status of Grand Continent IPO:

Here are the subscription details for Grand Continent Hotels IPO as of Day 3 (March 24, 2025, 11:19 AM):

Note:
 

• "Shares Offered" and "Total Amount" are calculated based on the upper price of the issue price range.
• The portions of anchor investors and market maker are not included in the total shares offered.

Grand Continent IPO - Day 3 Subscription

Key Highlights:

• Overall subscription reaching 0.60 times, showing steady progress though below full subscription
• QIB segment maintaining consistent interest at 0.71 times across all three days
• Retail investors showing improved interest at 0.63 times, more than tripling day one's 0.19 times
• NII segment showing moderate interest at 0.36 times, recovering from day two's dip
• Total applications reaching 1,236, including 1,152 from retail investors
• Cumulative bid amount reaching ₹29.53 crores, representing measured interest in the offering
• Anchor investors having contributed significantly with ₹21.17 crores before the public issue opened

Grand Continent IPO - Day 2 Subscription at 0.45 Times

Key Highlights:

• Overall subscription improving to 0.45 times, showing moderate growth from day one
• Retail investors more than doubling their interest to 0.44 times from day one's 0.19 times
• QIB segment maintaining steady interest at 0.71 times, unchanged from day one
• NII segment showing reduced interest at 0.14 times, down from day one's 0.42 times
• Day two maintaining progress despite fluctuations in investor category participation
• Market response indicating growing retail interest in mid-market hospitality sector
• Hotel chain business model attracting attention from diverse investor segments
• Second day building on first day momentum with steady overall improvements

Grand Continent IPO - Day 1 Subscription at 0.39 Times

Key Highlights:

• Overall subscription opening at 0.39 times, showing moderate initial investor approach
• QIB segment beginning strongly at 0.71 times, demonstrating institutional confidence
• NII segment showing good initial interest at 0.42 times, indicating positive early assessment
• Retail investors beginning cautiously at 0.19 times, suggesting measured evaluation
• Opening day demonstrating balanced investor engagement across categories
• Initial momentum reflecting strategic assessment of hospitality sector opportunity
• Mid-market hotel chain positioning drawing interest from institutional investors
• First day setting subscription baseline with institutional investors taking the lead

About Grand Continent Hotels Limited

Founded in 2011, Grand Continent Hotels Limited operates 19 properties across six major Indian cities with over 900 rooms in the mid-market segment. As of September 2024, the company manages 16 hotels with 753 keys across southern India in Karnataka, Tamil Nadu, Goa, Andhra Pradesh, and Telangana. Properties feature well-furnished rooms, dining options, conference facilities, and business services.

The company's financials show strong improvement with revenue growing from ₹6.03 crores in FY2022 to ₹31.53 crores in FY2024, turning a ₹0.79 crore loss into ₹4.12 crore profit. Recent metrics include 25% ROE and 17% ROCE, with 538 employees supporting operations.

Competitive strengths include premium mid-priced hospitality, strategic locations, active asset management, and an experienced team positioned to leverage positive industry trends
 

Highlights of the Grand Continent Hotels IPO:

• IPO type: Book Built Issue SME IPO
• IPO size: ₹74.46 crores
• Fresh Issue: 62.60 lakh shares aggregating to ₹70.74 crores
• Offer for Sale: 3.29 lakh shares aggregating to ₹3.72 crores
• Face value: ₹10 per share
• Issue price band: ₹107 to ₹113 per share
• Lot size: 1,200 shares
• Minimum investment for retail investors: ₹1,35,600
• Minimum investment for HNI: ₹2,71,200 (2 lots)
• Market maker reservation: 3,30,000 shares
• Anchor portion: 18,73,200 shares (₹21.17 crores raised)
• Listing at: NSE SME